Has Egypt’s Economy Turned The Corner? Time Will Tell

The future is looking brighter for Egypt’s economy with foreign reserves reaching an all-time high of $37.2bn and the rebound in tourism and Suez Canal revenues. This has not gone unnoticed with ratings agencies Moody’s and Fitch both giving the country a positive review.

The start of 2018 has been a good one for Egypt, with news that revenue from two pillars of its economy, the Suez Canal and tourism, hit three and five-year highs respectively in 2017 (see charts).